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Over US$1.2M in royalty for NRF by month end…Liza production surpasses 1.7 million barrels in January

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Oil production from the Liza Phase 1 Development at Guyana’s Stabroek Block amounted to 1,745,930 barrels for the month of January which is equivalent to 56,320 barrels of oil per day. Guyana’s Ministry of Finance said on Thursday in its...
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Apache, Total make second discovery offshore Suriname

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Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) on Thursday announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator...
Exploration

Political turmoil, price uncertainty will delay FIDs in Guyana for months – Rystad Energy

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Political turmoil in South America’s newest oil producing nation Guyana, coupled with falling oil prices and the COVID-19 pandemic will delay Final Investment Decisions (FIDs) for offshore projects by several months, according to Norway-based energy research and business intelligence...
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Around 25 million people could lose jobs globally as pandemic crushes economies, industries

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Measures to stem the COVID-19 pandemic have pushed the world’s largest economies into near-hibernation. While China shows early signs of re-emergence, the U.S. and Europe aren’t yet at the viral peak. Combined with a collapse in oil prices and...
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TechnipFMC slashes 2020 CAPEX by US$150 million

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TechnipFMC plc (NYSE: FTI) (Paris: FTI) said Wednesday it remains focused on taking all necessary steps to ensure the health and well-being of its employees, contractors and partners, and it is taking decisive actions in response to the current...
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Saudis boost oil output in defiance of Trump’s plea to end price war

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(Bloomberg) Saudi Arabia showed no sign of bowing to pressure from U.S. President Donald Trump to dial back its oil-price war with Russia. Instead, the kingdom pushed crude supply to record levels. Trump said Tuesday night that he’d spoken to...
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Guyanese engineers install subsea production assets for Liza Phase 1

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A team of Guyanese Engineers, working as Remotely Operated Vehicle (ROV) Pilots / Technicians for Offshore Innovators (Guyana) Inc. (OIG), have successfully supported the installation of their country’s first ever subsea field, making first oil possible at ExxonMobil’s Liza...
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Eco Atlantic says it remains fully funded for Guyana offshore as operations slow down

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Eco (Atlantic) Oil & Gas Ltd. said on Wednesday in light of the COVID-19 pandemic, the company continues to take all of the recommended measures to protect the welfare of its personnel. “Ensuring the safety of employees remains a major priority...
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Carter Center: A high-stakes election in Guyana

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(The Carter Center) On March 2, citizens of Guyana went to the polls for what the country was calling “the mother of all elections.” Every election is important, of course, but this one was deemed especially so because five years...
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Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply – WoodMac

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In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year. “While the collapse of LNG prices towards US production break-evens was foreseeable,...
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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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